What's happening
This bill allows school districts to receive additional building aid for debt service related to tax certiorari financing.
Why it matters
Helps school districts manage sudden large financial liabilities. by making them eligible for extra building aid when they take on significant debt from tax certiorari cases, which often arise when property owners successfully challenge their tax assessments and districts must pay refunds.
Eases budget strains from unexpected tax refunds. by allowing state aid to cover a portion of the debt service costs. This can prevent sharp cuts to educational programs or drastic tax increases that might otherwise result from large, unplanned payouts.
Requires documentation and oversight for accountability,. meaning districts must submit detailed paperwork to the state to qualify for the aid, ensuring funds are only used for legitimate tax certiorari-related debt.
Could lead to more equitable funding across districts,. especially benefiting those with lower property wealth that are more vulnerable to the impact of large tax certiorari settlements, helping maintain educational services despite fiscal shocks.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Help Schools Pay Tax Debts
Plain English, a few words. Used as the page title.
Sponsors
1 Multi-sponsor
History
- Referred to education
- Print number 2051a
- Amend and recommit to education
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increase School Building Aid
In Senate Committee · Education · Sponsor James Skoufis
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2051--A
2019-2020 Regular Sessions
IN ASSEMBLY
January 22, 2019
Introduced by M. of A. ZEBROWSKI, JAFFEE, GUNTHER, DICKENS, RAIA -- Multi-Sponsored by -- M. of A. COOK -- read once and referred to the Committee on Education -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the education law, in relation to building aid for approved expenditures for debt service for tax certiorari financing
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 3602 of the education law is amended by adding a new subdivision 6-i to read as follows:
6-i. Building aid for approved expenditures for debt service for tax certiorari financing. In addition to the apportionments payable to a school district pursuant to subdivision six of this section, beginning with debt service in the two thousand nineteen--two thousand twenty school year and thereafter, the commissioner is hereby authorized to apportion to any school district additional building aid pursuant to this subdivision for its approved debt service expenditures for financing the cost of a tax certiorari, where the total value of the bond exceeds the total general fund expenditures for the school district for the year prior to the year in which the school district first receives bond proceeds. In order to have such debt service expenditures approved, the school district shall submit to the commissioner, in a form he or she prescribes, documentation relating to the issuance of such bond, including but not limited to the original tax certiorari, the amortization schedule of such bond, and any other documentation deemed necessary. Provided, however, that in the event it refunds the original bond at any point, the school district shall provide such updated documentation as required by the commissioner, who shall adjust the annual approved expenditures accordingly. Such aid shall equal the product of the sum of (1) the building aid ratio defined pursuant to paragraph c of subdivision six of this section plus (2) one-tenth (0.1) multiplied by
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01577-02-9
A. 2051--A 2
the actual approved debt service expenditures incurred in the base year pursuant to this subdivision.
§ 2. This act shall take effect immediately. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized to be made and completed on or before such effective date.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.